This page has been archived and commenting is disabled.
The Fed Won: America's 0.1% Are Now Wealthier Than The Bottom 90%
Game over, man: the Fed won.
As the Economist reports, according to a new paper by authors at liberal bastion UC Berkeley and the LSE, US inequality in wealth is approaching record levels (actually it already surpassed it as reported long ago).
"The authors examine the share of total wealth held by the bottom 90% of families relative to those at the very top. In the late 1920s the bottom 90% held just 16% of America’s wealth—considerably less than that held by the top 0.1%, which controlled a quarter of total wealth just before the crash of 1929. From the beginning of the Depression until well after the end of the second world war, the middle class’s share of total wealth rose steadily, thanks to collapsing wealth among richer households, broader equity ownership, middle-class income growth and rising rates of home-ownership. From the early 1980s, however, these trends have reversed. The top 0.1% (consisting of 160,000 families worth $73m on average) hold 22% of America’s wealth, just shy of the 1929 peak—and almost the same share as the bottom 90% of the population."
That was as of 2013. By now the wealth of the top 0.1% is not only well above that of the "bottom 90%" but higher than it has ever been.
Thanks Uncle Ben and Aunt Janet.
In other news, Janet Yellen, thoruoughly stumped by the causes of America's record wealth inequality, advises America's poor, already drowning in debt, to please build assets in order to "rise above."
»
- 33303 reads
- Printer-friendly version
- Send to friend
- advertisements -
If Americans accept an unsound money system that insists interest rates can never rise in the face of relentless year after year inflation, they have lost the ability to defend their property and accept by default Obama’s new “international order,” i.e., totalitarian control by the international bankers.
Once again history repeats itself as the Fed makes the world safe for Bolshevism, based on the principles of greed and power, and the premise that the average man is too stupid to govern himself and therefore must be corralled and ruled by a self-appointed inner-circle.
Winston Churchill wrote in 1920, as Lenin and his band of Bolsheviks were brutally solidifying their stranglehold on the Russian people:
“This movement among the Jews is not new. From the days of Spartacus-Weishaupt to those of Karl Marx, and down to Trotsky (Russia), Bela Kun (Hungary), Rosa Luxembourg (Germany), and Emma Goldman (United States)... this worldwide conspiracy for the overthrow of civilisation and for the reconstitution of society on the basis of arrested development, of envious malevolence, and impossible equality, has been steadily growing. It has been the mainspring of every subversive movement during the 19th century; and now at last this band of extraordinary personalities from the underworld of the great cities of Europe and America have gripped the Russian people by the hair of their heads and have become practically the undisputed masters of that enormous empire."
Writing on 'Zionism versus Bolshevism' in the Illustrated Sunday Herald, February 1920
Greed and lust for power know no limits.
"Won?!"
The guillotines haven't yet taken the field.
An American, not US subject.
"Guillotine the Fed!"
When the herd is compartmentalized in its own game of wealth status in comparison/competition to its fellow herdsman the real accumulation of wealth will always belong to those 1% ers.
It's deja 1925 all over again. And then........
Can we really call the "rigged game" free market capitalism. Where work is rewarded and failure punished? Did 2008 end for all time the idea that failed business models will be swept away by market forces? Has " the saver" been added to the list of potential terrorists? And the speculator "enabled by free Fed money" elevated to the most favored of all occupations in America?
Why ask eh? We all know the answers. The results of bribery of congress via campaign funding to infinity and in secret has delivered a government that responds to it's masters, the 1%, and treats the rest as a population that needs to be occupied, if you will, by police state cops, out of control corrupt courts,private for profit prisons, Orwellian national security agencies such as NSA, CIA, DEA, ATF, and a host of highly paid police state spies.
We no longer are free men in a free country. If you think that you have gone mad. Your every thought, action and deed is tracked by spies, spies you fund with your taxes, who list you on a scale of how much of a threat you are to the 1%. Your opinions are collected by NSA, you are then subject to a computer examination to determine if your political views threaten bankers, Israel, the imperial war machine, wall-street speculators and the Federal Reserve. If you are like me, then every ZH post you make, just puts you higher on the enemies list of the NSA and CIA. The 1% have decided to go all in, 9/11 opened the door to a quasi Stalinist police state spy network. That is now fully operational. I admit, they have yet to start mass arrests, Stalin was a special sort of evil, but America is preparing a system that can go Stalinist at the flick of a switch.
Israel and it's supporters, Wall-Street and their supporters, the Military and their supporters, the Government and it's army of highly paid rulers, all of them fear the "open mind", the "desire for freedom" and "any return to market driven economics". The Federal reserve has ended capitalism as we knew it, and replaced it with a dictatorship of the 1%. The Fed policies, as the above article makes clear, favor the 1% in every sense. If you try and compete freely and faily with the Fed's favored entities, I am afraid you will be looted, crushed and hung out to fucking dry!
Good Monday morning!
They have the stasi state in the works where they will even listen to what your saying in your own home.
https://www.youtube.com/watch?v=KWmRg34DyjI
Just wait until we shift Gold to BRICS. The Federal Reserve glory hole orgy will come to a stand still.
Fuck you Janet.
All the inflation the FED has tried to create has gone into equities while the real economy is in deflation, the fed hasn't acomplished anything other than keeping the dollar ponzi going and the eventual collapse of the dollar.
Sure the rich are worth more on paper, inflated paper.
It is not game over because the game only ends when all the humans are dead and we still are very much alive. We are just not a 1st world country anymore, but the world's richest 3rd world country. Re-establishing the principle that when you're rich, you stay rich because you're performing economically will restart sorting the 0.1% as soon as we do it.
We just need to identify, and remove, all the laws that are tilted to give the 0.1% an advantage over the rest of us. When they have to play by the same rules, some will stay right where they are because they are legitimately there and the rest will fall because they depended on some tilted playing field to get and keep their power and wealth.
This is a really big IT problem to find and identify all those rules but it's not an impossible one. It's not even particularly hard. There are experts for every government that the US has (and we have tens of thousands of them) that could identify these things. We just have to decide that this capability is something we want and pay for it. It's not even that expensive.
"We just need to identify, and remove, all the laws that are tilted to give the 0.1% an advantage over the rest of us."
pure fantasy. you're fighting the most powerfull force in the universe with sticks and stones.
one word-greed
Don't worry, it will trickle down.
And now for something completely different .
Some new owners are coming in .
See
https://www.academia.edu/9247204/Be_Your_Own_Owner
or
http://andreswhy.blogspot.com/2014/11/be-your-own-owner.html
I don't believe this was engineered but certainly those with influence and wealth are taking advantage to hoover up all they can get. Collapse was inevitable years back; it's just amazing me how LONG it's taking to happen, but I suppose it is a slow motion avalanche. Perception and fiction play a big role in seeing the extent to which we are fallen.
The Federal Reserve accomplished this with the white house negro who can spin another free Internet forum via TOTUS. The same fucknobs who cannot create a ObamaCare website. Brilliance in new taxpayer channeling of wealth. I think a old dial-up modem will be thrown instead of a shoe.
Don't worry Obama dirt bags, we will release a new non government taxed version of the Internet.
Obama, you can continue pissing up a tree! Or, shove your dick into a new male bathhouse asshole.
They won at the tables.
Now they have to walk back to their cars.
1929??
Endeavor to persevere..... https://www.youtube.com/watch?v=rsL6mKxtOlQ
Actually the mind blower stat here for me was that there are 160,000 families in the US each worth over $73 Milski. Amazing
Ahh yes. The real Progressive Utopia brought to it's logical conclusion. It sounds good on paper. But in the end, make everyone poor except the rich rich. Congrats.
Still stinks when they take a dump.
As Perry Mason would say ,
Incompetant , Immaterial and Irrelevant .
There new owners . The old has already gone ,
Only the ones that have not realized that they are dead and poor
still have to be notified .
PS . Charon is on Uber now . Takes all major credit cards .
http://andreswhy.blogspot.com/2014/11/be-your-own-owner.html
or
http://andreswhy.blogspot.com/2014/11/be-your-own-owner.html
The difference twix 100 years ago and now are the ever increasing tribal members that want the same free money their family has always had. They've been cooking the books for a hundfred years, and those that don't make it out of the country in time will feel the rath of the destitute public they've fleeced.